The revenue decline reflects the conclusion of a major collaboration, but reduced R&D spending and strong cash position support continued clinical development. Investors should monitor upcoming data readouts from vopimetostat combination trials in 2026 as key value inflection points.
Price Chart
Executive Summary
Tango Therapeutics reported financial results for Q4 and full year 2025, showing a decline in revenue due to the conclusion of its Gilead collaboration, while R&D expenses decreased year-over-year. The company highlighted clinical progress with vopimetostat, including combination trials and a new supply agreement with Erasca, and announced leadership changes. Cash position of $343.1 million provides runway into 2028.
Key Financial Metrics
Key Facts
- Revenue dropped to $0 in Q4 2025 from $5.4M in Q4 2024, and full-year revenue decreased to $62.4M from $42.1M in 2024 due to completion of Gilead collaboration
- Net loss narrowed to $38.7M in Q4 2025 from $30.8M in Q4 2024, and full-year net loss decreased to $101.6M from $130.3M in 2024
- Cash, cash equivalents, and marketable securities totaled $343.1 million as of December 31, 2025, providing runway into 2028
- Company initiated a pivotal study for vopimetostat in 2L pancreatic cancer and entered a clinical supply agreement with Erasca for combination therapy
- Leadership changes included CEO succession from Dr. Barbara Weber to Dr. Malte Peters and appointment of Philippe Serrano as Chief Regulatory Officer
Financial Impact
Revenue decreased by $62.4M year-over-year due to completion of Gilead collaboration, while operating expenses decreased by $13.9M, resulting in improved cash preservation
Risk Factors
- Dependence on successful clinical development of vopimetostat, which remains investigational
- No current revenue from product sales with uncertain path to profitability
- High burn rate in a capital-intensive biotech sector requiring potential future funding
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-092535 |
| Document: tngx-20260305.htm | 0001193125-26-092535 |
| Document: 0001193125-26-092535-index-headers.html | 0001193125-26-092535 |
| Document: 0001193125-26-092535-index.html | 0001193125-26-092535 |
| Document: 0001193125-26-092535.txt | 0001193125-26-092535 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 11, 2026 7w ago | 8-K | $25.58 $25.20 | ▲ +1.49% | ▲ +1.04% | $23.20 (+9.28%) |
Aug 11, 2026 7w ago | 8-K | $26.34 $25.44 | ▼ −3.42% | ▼ −3.01% | $23.20 (−11.90%) |
Aug 11, 2026 7w ago | Press Release | $26.34 $25.44 | ▼ −3.42% | ▼ −3.01% | $23.20 (−11.90%) |
Aug 9, 2026 7w ago | Institutional Cluster | $27.67 $25.29 | ▼ −8.60% | ▼ −8.55% | $23.20 (−16.14%) |
Aug 6, 2026 8w ago | 8-K | $27.07 $25.60 | ▼ −5.43% | ▼ −5.83% | $23.20 (−14.28%) |
Jun 11, 2026 16w ago | 144 | $30.94 $27.97 | ▼ −9.60% | ▼ −10.27% | $23.20 (−25.00%) |
Jun 11, 2026 16w ago | Institutional Cluster | $29.82 $32.29 | ▲ +8.28% | ▲ +7.85% | $23.20 (−22.18%) |
Jun 11, 2026 16w ago | Institutional Cluster | $29.82 $32.29 | ▲ +8.28% | ▲ +7.85% | $23.20 (−22.18%) |
Jun 10, 2026 16w ago | 424B5 | $29.82 $32.29 | ▲ +8.28% | ▲ +7.85% | $23.20 (−22.18%) |
Jun 10, 2026 16w ago | 144 | $29.82 $32.29 | ▲ +8.28% | ▲ +7.85% | $23.20 (−22.18%) |
US Market Status
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